Instead, learn about local options and then visit facilities with your parents. Figure out what they can afford by looking at their budget. If necessary, decide how much you can contribute. Talk to siblings to gain their input and learn whether they can help.

Watch and listen
Seek answers to these questions:

* Are my parents handling financial paperwork, or is it stacking up?
* Do my parents need help with everyday tasks they used to handle themselves?
* Are my parents taking care of their health? Are there signs of incontinence?
* Are my parents able to get around, both within their home and in their community?

When adult children live far from their parents, getting answers may require an extended visit or talking with siblings who live nearby or with the parents’ neighbors.

Plan ahead
As parents’ needs increase, adult children may need legal authority to act on their parents’ behalf. A health care power of attorney and a durable power of attorney typically provide this authority. You also should gather information about parents’ financial accounts, assets, insurance, wills, and health care directives.

Throughout the process, remember to listen carefully to the wishes of elderly parents and then respect their desires as much as possible.

That process benefits everyone involved: By showing respect for your parents’ preferences now, you’ll be better prepared to someday share your own wishes with the next generation of caregivers.

When it’s time to start making financial decisions about the changing needs of your family, a professional at Hopewell Federal Credit Union would be happy to speak with you. Contact us today at 740.522.8311.